CLO deals in pipeline; THL to exit CLO equity investments, sells interests in two CLOs

By Cristal Cody

Tupelo, Miss., Aug. 6 – Several CLO deals are in the near-term pipeline, while market analysts forecast at least $90 billion of total issuance for the year, according to sources on Thursday.

CLO managers including Credit Suisse Asset Management, LLC, Columbia Management Investment Advisors, LLC and Loomis, Sayles & Co., LP are expected to tap the market.

Credit Suisse Asset Management plans to price $620 million of notes due Oct. 20, 2026 in the Madison Park Funding XVIII Ltd./Madison Park Funding XVIII LLC deal via Morgan Stanley & Co. LLC.

Columbia Management Investment Advisors, LLC is offering $509 million of notes in the Cent CLO 24 Ltd./Cent CLO 24 Corp. transaction. Goldman Sachs & Co. is the placement agent.

Also, Loomis Sayles intends to sell $413.75 million of notes in the Loomis Sayles CLO II, Ltd./Loomis Sayles CLO II, LLC offering. J.P. Morgan Securities LLC is the placement agent.

More than $76 billion of CLOs have priced year to date, according to data compiled by Prospect News.

In other activity, middle market lender THL Credit, Inc. said in its second-quarter earnings results on Thursday that it has divested residual interests in two CLOs since July.

From July 1 through Thursday, THL Credit said it sold its CLO residual interests in Adirondack Park CLO Ltd. and Sheridan Square, CLO Ltd. for proceeds of $12.7 million.

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